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Mar 30, 2017
03/17
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we start with toshiba and shares are down less than 1% toshiba and shares are down less than1% in toshiba and shares are down less than 1% in tokyo trade news overnight that it is us unit westinghouse filed for bankruptcy protection. investors are waiting as shareholder meeting due to start shortly. toshiba are now warns that the delos mao may widen to over $1 billion us because of the problems of westinghouse. it has twice delayed reporting earnings until april 11. and toshiba shares have lost over 60% since it first acknowledged that the problems in december. the japanese firm may now look to sell a majority stake in westinghouse. earlier i spoke to rupert in tokyo. i asked him how ha rd rupert in tokyo. i asked him how hard it will be for toshiba to get their finance hard it will be for toshiba to get theirfinance in hard it will be for toshiba to get their finance in order. it will be quite difficult to do that. it faces a large hurdle to get this mess under control. that is why it has filed for bankruptcy for westinghouse in the us, to try and put a barrier between the rest of the on
we start with toshiba and shares are down less than 1% toshiba and shares are down less than1% in toshiba and shares are down less than 1% in tokyo trade news overnight that it is us unit westinghouse filed for bankruptcy protection. investors are waiting as shareholder meeting due to start shortly. toshiba are now warns that the delos mao may widen to over $1 billion us because of the problems of westinghouse. it has twice delayed reporting earnings until april 11. and toshiba shares have lost...
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Mar 14, 2017
03/17
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toshiba started its nuclear business around ten years ago. it now runs and operates nuclear power plants in the us, uk and japan. infact, the nuclear division makes up about a third of revenues. things really started turning sour, though, after because she in japan started turning sour, though, after because she injapan when governments started asking questions about how much they should depend on nuclear energy for their power needs. and then toshiba's nuclear assets in america turned out to be worth far less than initially thought, so the company's having to ta ke thought, so the company's having to take losses of several billion dollars because of that. well, toshiba has already sold off some of its more profitable businesses after an accounting scandal back in 2015. but the real jewel in its crown is the semiconductor business. that makes chips for smart phones and computers. toshiba has already said it will sell off a slice of that business, but it still may not be an off to plug that whole. what does that mean? well, toshiba may not sub
toshiba started its nuclear business around ten years ago. it now runs and operates nuclear power plants in the us, uk and japan. infact, the nuclear division makes up about a third of revenues. things really started turning sour, though, after because she in japan started turning sour, though, after because she injapan when governments started asking questions about how much they should depend on nuclear energy for their power needs. and then toshiba's nuclear assets in america turned out to...
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Mar 14, 2017
03/17
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labor costs rose more than toshiba expected. the third one concerns difficulties many construction methods. to build its cutting edge reactors, westinghouse manufacturers cocomponents at a factory and assembled them at power plant sites. the idea was to speed up construction time and cut costs, but defects in the components were found. modifications were needed. those difficulties led to delays in construction. these problems underline the challenges posed by the nuclear power business. market players are wondering what lies ahead for the troubled japanese electronics maker. the three main pillars of toshiba's businesses are semiconductors, nuclear power, and social infrastructure. the company has been making money in the semiconductor field, but toshiba is planning to sell all or part of its stake to cover the heavy losses from its nuclear power business. and company officials have just announced they want to pull out of the u.s. nuclear sector to avoid future losses. so the question is, what, if any, are the company's prospect
labor costs rose more than toshiba expected. the third one concerns difficulties many construction methods. to build its cutting edge reactors, westinghouse manufacturers cocomponents at a factory and assembled them at power plant sites. the idea was to speed up construction time and cut costs, but defects in the components were found. modifications were needed. those difficulties led to delays in construction. these problems underline the challenges posed by the nuclear power business. market...
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Mar 29, 2017
03/17
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toshiba corporation's internal control, we take a conservative view on whether toshiba corporation will continue to support financials. do you think that at any point could the government -- or, do you think the government needs at all to step into the situation? >> at this stage, we do not expect extra government support to avoid liquid shortage for toshiba corporation. companies, toshiba is a private company. betty: all right. thank you so much for shedding some light on that. the s&p global ratings, corporate ratings director on the possible credit fallout from this bankruptcy filing that we are awaiting. still ahead, we heard from someone who was an advisor to several residential campaigns here in the united states. ehe hoover institute is liv and joining us on president trump's agenda. yvonne: and next week go live to investmentsuisse conference in hong kong. this is bloomberg. ♪ we have some breaking news out of h in a. they have announced a unit will , hongsing some money here kong dollars, 9.26 billion dollars from a right issue. this is a construction management group, part o
toshiba corporation's internal control, we take a conservative view on whether toshiba corporation will continue to support financials. do you think that at any point could the government -- or, do you think the government needs at all to step into the situation? >> at this stage, we do not expect extra government support to avoid liquid shortage for toshiba corporation. companies, toshiba is a private company. betty: all right. thank you so much for shedding some light on that. the...
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Mar 29, 2017
03/17
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shares of toshiba, a big focus. they'll continue to be in the spotlight with the news about its u.s. subsidiary westinghouse. we'll keep track of that. toshiba accepts bids for its memory chip business until its memory chip business until today, wednesday we'll monitor that as well. overall, the data in the u.s., solid, actually. and that boosted global market sentiment and consumer confidence in march sored to its highest level in 16 years. u.s. house prices showed home prices hit a 31-month high providing further evidence of a stronger u.s. economy. higher prices in crude rose as much as 2% on tuesday. west texas intermediate you're looking there. after severe disruption in libyan oil supplies. this may help boost commodity and >> it's workds let's have a look at the pairing yen. it was trading at the lower 110 levels in recent fashion. so that is a bit of a boost. it dropped to four week lows against the yen in previous sessions this week. the dollar's off higher against the euro. they're selling safer assets lik
shares of toshiba, a big focus. they'll continue to be in the spotlight with the news about its u.s. subsidiary westinghouse. we'll keep track of that. toshiba accepts bids for its memory chip business until its memory chip business until today, wednesday we'll monitor that as well. overall, the data in the u.s., solid, actually. and that boosted global market sentiment and consumer confidence in march sored to its highest level in 16 years. u.s. house prices showed home prices hit a 31-month...
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Mar 14, 2017
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toshiba will postpone its earnings report once again. get us up to speed. >> they are expecting huge losses due to its subsidiary in the u.s. executives were planning to release their april to december earnings last month but they postponed that because they said they needed time to look into reports of inappropriate accounting pressure by management. the self-imposed new deadline was march 14th and they've announced another delay. toshiba president plans to hold a news conference on tuesday to explain its latest decision. attention is focused on what he will say about a review of the company's nuclear business. executives have been studying various options and one is for westinghouse to file for chapter 11 bankruptcy and for toshiba to pull out from the u.s. nuclear business. >>> executives have blamed enhanced nuclear safety standards after the fukushima disaster. nhk has learned of another reason. fixed price accounts for nuclear plans in the u.s. are reportedly behind the huge losses. toshiba expects to post about 6 billion dollar in
toshiba will postpone its earnings report once again. get us up to speed. >> they are expecting huge losses due to its subsidiary in the u.s. executives were planning to release their april to december earnings last month but they postponed that because they said they needed time to look into reports of inappropriate accounting pressure by management. the self-imposed new deadline was march 14th and they've announced another delay. toshiba president plans to hold a news conference on...
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Mar 29, 2017
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toshiba says it can post a net loss of $9 billion fiscal year. that would be the biggest ever for japanese manufacturer. >> we believe the removal of westinghouse from toshiba's consolidated earnings is in line with the company's policy of avoiding risk from the nuclear business abroad westinghouse has faced ballooning costs to meet upgraded safety standards at four reactors it's building in the u.s. the subsidiary received orders for the reactors in 2008. earlier toshiba projected losses from westinghouse to reach at least $6 billion for the current fiscal year. toshiba executives say they will remove westinghouse from their consolidated financial statements and they intend to withdraw from the u.s. nuclear business entirely. joining us in the studio, we just heard officially they are pulling out from the nuclear business in the u.s. won again, how did it end up this way? >> the company's purchase of westinghouse was beginning of end for toshiba's u.s. business. they made the wrong bets a clear renaissance which never materialized. the company f
toshiba says it can post a net loss of $9 billion fiscal year. that would be the biggest ever for japanese manufacturer. >> we believe the removal of westinghouse from toshiba's consolidated earnings is in line with the company's policy of avoiding risk from the nuclear business abroad westinghouse has faced ballooning costs to meet upgraded safety standards at four reactors it's building in the u.s. the subsidiary received orders for the reactors in 2008. earlier toshiba projected losses...
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Mar 14, 2017
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toshiba stocks funds -- plunged. toshiba has already delayed reporting was -- once. a write-down book of more than $6 billion of westinghouse. there may be a news conference situation.the global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. i'm paul allen. this is bloomberg. britain is another step closer to quitting the european union. that is parliament gives the prime minister permission to launch the process. meanwhile, the united states is closer to the first rate hike of 2017 as policymakers prepare to meet. global policyr editor. theresa may, rebellion by her own party did not matter much. reporter: in the end, it does not seem to have mattered much at all. it may not be over yet, but yes. according to what the uk's supreme court decided, parliament has to give theresa may the go-ahead, but the house of lords came up with a couple of amendments to add to the draft bill, a very simple bill. -- in short commons order the house of lords got on board and approved the clean bill theresa may wanted. the queen has
toshiba stocks funds -- plunged. toshiba has already delayed reporting was -- once. a write-down book of more than $6 billion of westinghouse. there may be a news conference situation.the global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. i'm paul allen. this is bloomberg. britain is another step closer to quitting the european union. that is parliament gives the prime minister permission to launch the process. meanwhile, the united states...
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Mar 31, 2017
03/17
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toshiba's u.s. subsidiary, westinghouse, has filed for bankruptcy. it has to its losses from the subsidiary before moving on. he said it was inevitable that westinghouse would file for bankruptcy. >> translator: it's c car ta toshiba should rebuild its business in the long run, but it's difficult to see who is making the final decisions. >> aso added bringing everyone into discussions about the country's future cannot work in a crisis situation. westinghouse's filing for bankruptcy has cast a shadow over a couple of nuclear power plant projects currently under way in the united states. we take a look at what went wrong at the company. >> reporter: this is the nuclear plant in georgia, designed by westinghouse. construction is going on around the clock with 5,000 workers on the site. but at this nearby convenience store, staff says they noticed a change. >> normally it's more busier ththan what it is right now. kind of slow. because last week they laid off around a couple more hundred people. it's steadily going on. >> reporter: richard goldbeck was a
toshiba's u.s. subsidiary, westinghouse, has filed for bankruptcy. it has to its losses from the subsidiary before moving on. he said it was inevitable that westinghouse would file for bankruptcy. >> translator: it's c car ta toshiba should rebuild its business in the long run, but it's difficult to see who is making the final decisions. >> aso added bringing everyone into discussions about the country's future cannot work in a crisis situation. westinghouse's filing for bankruptcy...
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Mar 30, 2017
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just because toshiba is distancing themselves from westinghouse does that mean that toshiba -- japan will give them up. yvonne: westinghouse technology is in half of the world's reactors. our others going to follow? stephen: that is exactly it. areva, which basically got bought out by the french government. they also had cost overruns. now you look at westinghouse, they filed for chapter 11. the question is what is the future for nuclear? these private companies have proven to fail because nuclear pants -- plants cost a lot of money. the future for nuclear is not as bleak as one may think. you look at china, they are building a lot of plants, and developing technology, all state backed. i mentioned korea earlier, that is state backed. the future of nuclear is really state backed. local -- ahead, how low can ago. what brexit means for sterling's prospects. betty: before that, we will get the view on energy and infrastructure at credit suisse there with stephen engle's. this is bloomberg. ♪ yvonne: this is "daybreak asia."yvonne: betty: avonne man quick look at the business headlines
just because toshiba is distancing themselves from westinghouse does that mean that toshiba -- japan will give them up. yvonne: westinghouse technology is in half of the world's reactors. our others going to follow? stephen: that is exactly it. areva, which basically got bought out by the french government. they also had cost overruns. now you look at westinghouse, they filed for chapter 11. the question is what is the future for nuclear? these private companies have proven to fail because...
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Mar 30, 2017
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toshiba stocks ended the day up 4%. the firm warned of a possible net loss for the current fiscal year of about $9 billion. but the vote by shareholders in favor of spinning off the chip business is seen as paving the way for a turnaround. the energy sector outed most others on the backs of the recent rise in oil prices and gasoline stocks that point to increasing demand. jx holdings and showa shell both ended higher. the dollar touched a one-week high against t the yen in early trading hours and also against the euro. the european central bank is wary of changing its easing money policy at the moment. on the other hand, some u.s. federal reserve officials expressed support for a couple more rate hikes this year. that's something to keep an eye on in the months to come. giang nguyen, reporting from the tokyo stock exchange. >> many other markets in the asia-pacific region ended lower. shanghai composite was down almost 1%. hong kong fell .4%. kospi, 2164 the closing number. samsung electronics was higher after it announ
toshiba stocks ended the day up 4%. the firm warned of a possible net loss for the current fiscal year of about $9 billion. but the vote by shareholders in favor of spinning off the chip business is seen as paving the way for a turnaround. the energy sector outed most others on the backs of the recent rise in oil prices and gasoline stocks that point to increasing demand. jx holdings and showa shell both ended higher. the dollar touched a one-week high against t the yen in early trading hours...
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Mar 29, 2017
03/17
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this was a purchase made by toshiba. in retrospect the executives are probably thinking wasn't the best idea. there are two issues. first, the on toshiba. second, what this means for the nuclear industry globally. with regards to toshiba, this has been a big drag on the financial bottom line, and now there are even questions about how much financial responsibility toshiba will have for westinghouse and will they even have enough money to cover they even have enough money to cover the costs? that will take a while to sort out. right now the company is in chapter 11, sort out. right now the company is in chapter11, in sort out. right now the company is in chapter 11, in bankruptcy proceedings. now comes the time for the negotiations, trying to figure out which creditors to pay and when. when you talk about the global industry of nuclear energy, it seems to be waning overall in favour of things like solar power and wind power, and the fact we saw that energy prices have just fallen so much, the importance of getting into nu
this was a purchase made by toshiba. in retrospect the executives are probably thinking wasn't the best idea. there are two issues. first, the on toshiba. second, what this means for the nuclear industry globally. with regards to toshiba, this has been a big drag on the financial bottom line, and now there are even questions about how much financial responsibility toshiba will have for westinghouse and will they even have enough money to cover they even have enough money to cover the costs?...
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Mar 14, 2017
03/17
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westinghouse ways on toshiba. tuesday's earnings report may be delayed amid some sorry looking numbers. the white house says discussions are underway with beijing for a presidential meeting next month. and intel makes a $15 billion bet on driverless cars, playing catch-up in a market seen as the next big thing. the second hour of daybreak asia live from bloomberg's u.s. and asia headquarters. i'm yvonne man in hong kong, just after 8:00 a.m. betty: just after 8:00 p.m. in new york. i am betty liu. it feels like deja vu waiting for the snowstorm. we are also waiting for a lot of news events to happen, in particular the fed meeting on wednesday, which we were talking ad nauseam about. we want to get this rate hike out of the way, which seems almost like a near certainty, and find out what is the fed thinking about future rate hikes? that is what is going to dominate the conversation going forward. yvonne: in the meantime, the only thing we can watch that is not trading in a tight range is the treasury yield on the 1
westinghouse ways on toshiba. tuesday's earnings report may be delayed amid some sorry looking numbers. the white house says discussions are underway with beijing for a presidential meeting next month. and intel makes a $15 billion bet on driverless cars, playing catch-up in a market seen as the next big thing. the second hour of daybreak asia live from bloomberg's u.s. and asia headquarters. i'm yvonne man in hong kong, just after 8:00 a.m. betty: just after 8:00 p.m. in new york. i am betty...
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Mar 1, 2017
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that is a problem for toshiba. there are also financial bidders in the mix, including a couple pe firms, but they will not have the ability to copy allies on synergies. -- capitalize on synergies. won a contentious bid, and it looks like he is coming back to toshiba to take over the chip business. david: it is a crown jewel of any company, and this is one of the central technologies of modern life. we have seen how beautiful foxconn is at executing things, just creating this incredible .roduction machine they will take this technology and drive it forward in a way others probably cannot. i think it is a promising idea, but it's got to be tragic for toshiba to lose this extraordinary business. is $30e: the valuation billion. why is it less than what was originally gone for? what are people taking apart? -- picking apart. reporter: toshiba has to sell quickly. it would like to avoid an antitrust review with some bidders already in the flash memory business. it is also a challenge that the japanese government is not a
that is a problem for toshiba. there are also financial bidders in the mix, including a couple pe firms, but they will not have the ability to copy allies on synergies. -- capitalize on synergies. won a contentious bid, and it looks like he is coming back to toshiba to take over the chip business. david: it is a crown jewel of any company, and this is one of the central technologies of modern life. we have seen how beautiful foxconn is at executing things, just creating this incredible...
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Mar 14, 2017
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toshiba has been a bit of a mess recently. it started in december when they warned about this potential write-down in the nuclear business. before i get to the inner workings they're coming yes indeed, the news today is that toshiba is seeking a second extension of its earnings reporting deadline now until april 11. beneath that is essentially an investigation, and internal look into its westinghouse are nuclear business. essentially, an auditor will sign off on some of the numbers related to that. is that cost overruns in the construction of two nuclear reactors in the u.s. caused a write-down of at least $6 billion. toshiba then has to fill that hole and its balance sheet, so it has been scrambling to find buyers for its prize to chip business, trying to figure out the magnitude of the cost, and may even restructure or selloff the nuclear business, so there are lots of moving parts, and what we have seen today is sort of a manifestation in terms of coming up with numbers that can report to the market and to investors. david:
toshiba has been a bit of a mess recently. it started in december when they warned about this potential write-down in the nuclear business. before i get to the inner workings they're coming yes indeed, the news today is that toshiba is seeking a second extension of its earnings reporting deadline now until april 11. beneath that is essentially an investigation, and internal look into its westinghouse are nuclear business. essentially, an auditor will sign off on some of the numbers related to...
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Mar 14, 2017
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stocks in focus, toshiba a big one today. some of its earlier losses now and the black on top of 1%. down by as much as 7%. it did get an extension to report its earnings april 11. it continues to review shipping to a holding company. one of the front-runners in the region, i report that looks like it has a hong kong buyer. alibaba actually soars in hong kong. around thetral-bank globe this week, the boj in focus but it is interesting to averageneck a stock dropping. even though we're seeing japanese air rise, that shows we head of the boj. manus: the latest from market in hong kong. the prime ministers preparing to trigger brexit in the last week of mark -- march. parliament passed legislation allowing the government to invoke article 50 anna: of the treaty. house of commons overturned the house of lords to restrict her maneuver. she will start the process of getting permission for a second independent referendum next week. joining us now, head of market strategy. great to have you on the program. we face what could be an in
stocks in focus, toshiba a big one today. some of its earlier losses now and the black on top of 1%. down by as much as 7%. it did get an extension to report its earnings april 11. it continues to review shipping to a holding company. one of the front-runners in the region, i report that looks like it has a hong kong buyer. alibaba actually soars in hong kong. around thetral-bank globe this week, the boj in focus but it is interesting to averageneck a stock dropping. even though we're seeing...
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Mar 15, 2017
03/17
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officials at toshiba are appealing for financial support. gene otani has the details on that and other headlines. >>> executives at toshiba have asked banks to keep supporting them. they met with representatives from some 80 f financial constitutions. three main lenders agreed to further help the company. sources say toshiba executives apologized for delaying once more the release of their earnings report. they reportedly said they missed tuesday's deadline because they need more time to finish an internal probe into accounting at their u.s. nuclear power unit westinghouse. the officials added the firm plans to w plans to withdraw from its nuclear business in the u.s. the sources say toshiba asked the banks to continue their lending. toshiba has asked the tokyo stock exchange to keep its shares listed. the tse designated the stock as securities on alert in the wake of the 2015 accounting scandal. on wednesday, the bourse stepped up its scrutiny. it's now classified the shares as securities under supervision. toshiba has submitted a report de
officials at toshiba are appealing for financial support. gene otani has the details on that and other headlines. >>> executives at toshiba have asked banks to keep supporting them. they met with representatives from some 80 f financial constitutions. three main lenders agreed to further help the company. sources say toshiba executives apologized for delaying once more the release of their earnings report. they reportedly said they missed tuesday's deadline because they need more time...
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Mar 2, 2017
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why would toshiba be picky about this? reporter: to back up a step, toshiba is reeling from financial troubles in its u.s. nuclear business. of course it is a broad icon with many different is this is, but it is going through this process of trying to shore up its balance sheet because of the write-down and will have to take with its nuclear business, so it is looking at selling a number of assets, everything from the elevator business and hospital business, to the crown jewel, the memory chip business, which could be worth $13 billion, more or less. it has begun to solicit bids from a variety of companies, and a person from foxconn expressed that he is interested. all the other companies interested are already in the flash memory business, so they would face an antitrust review or some kind of regulatory scrutiny that would slow down the process. that is a problem for toshiba. they need to be able to get this cash quickly. there are also financial bidders in the mix, including a couple pe firms, but they will not have the
why would toshiba be picky about this? reporter: to back up a step, toshiba is reeling from financial troubles in its u.s. nuclear business. of course it is a broad icon with many different is this is, but it is going through this process of trying to shore up its balance sheet because of the write-down and will have to take with its nuclear business, so it is looking at selling a number of assets, everything from the elevator business and hospital business, to the crown jewel, the memory chip...
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Mar 14, 2017
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as well as the updates from toshiba. more on that next. this is bloomberg. >> toshiba says it will have a second earnings report deadline, given approval to delay until april 11. it says it needs more time to assess losses for its nuclear unit. toshiba slumped on news of the delay, shares now recovering down 1.5%. china's economy continues to hold momentum, where the old growth engine is still firing. investor production fell more than expected in january and february. meanwhile, sales rose 9.5%, missing estimates, driven down by lower car s
as well as the updates from toshiba. more on that next. this is bloomberg. >> toshiba says it will have a second earnings report deadline, given approval to delay until april 11. it says it needs more time to assess losses for its nuclear unit. toshiba slumped on news of the delay, shares now recovering down 1.5%. china's economy continues to hold momentum, where the old growth engine is still firing. investor production fell more than expected in january and february. meanwhile, sales...
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toshiba is considering selling off its majority share. toshiba's financial woes deepened. the japanese company said it will once again delay the release of its latest earnings report, citing an ongoing investigation in its u.s. branch, westinghouse. the firm also said it was aggressively considering it options as it grapples with a multibillion-dollar financial maelstrom. >> one of our biggest challenges, from our foreign business. were looking at a potential sale of westinghouse. >> the cell would be the latest in a series of drastic steps taken by toshiba to cope with an upcoming $6.3 billion write-down for its nuclear business. bystems from its purchase its u.s. branch westinghouse of a construction company at an inflated price. toshiba warned investors in december it faced heavy losses linked to the deal. since then, shares have lost over half their value. to offset the damage, to shiva put its prized memory chip business, which it values at $13 billion, up for sale last month, the first ceo also denied reports that was contemplating filing for bankruptcy for its u.s.
toshiba is considering selling off its majority share. toshiba's financial woes deepened. the japanese company said it will once again delay the release of its latest earnings report, citing an ongoing investigation in its u.s. branch, westinghouse. the firm also said it was aggressively considering it options as it grapples with a multibillion-dollar financial maelstrom. >> one of our biggest challenges, from our foreign business. were looking at a potential sale of westinghouse....
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they say toshiba might end up with a big financial burden. toshiba's president is hopeful a solution will materialize. >> translator: we don't think it's impossible to sell westinghouse as long as the overall operations are taken into account. >> in the meantime westinghouse officials are weighing the option of filing for chapter 11 bankruptcy. a variety of options are on the table but no decisions have been made yet. toshiba executives say on wednesday that their going to -- they say on wednesday they will meet with about 80 financial institutions including their main creditor banks. they plan to explain restructuring strategy and ask for continuing lending and support. lower oil prices dragged down major indices as well. let's see how tokyo markets are opening. we'll go to ramin. tell us how markets are opening. >> all eyes and ears are going to be on the federal reserve meeting later wednesday. many have already pretty much priced in rate hike but many market players will want to hear from fed chief janet yellen and any comments she makes.
they say toshiba might end up with a big financial burden. toshiba's president is hopeful a solution will materialize. >> translator: we don't think it's impossible to sell westinghouse as long as the overall operations are taken into account. >> in the meantime westinghouse officials are weighing the option of filing for chapter 11 bankruptcy. a variety of options are on the table but no decisions have been made yet. toshiba executives say on wednesday that their going to -- they...
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a lot of focus on toshiba like lib today. >> absolutely and for a while. now, you mentioned the firmer dollar. tell us what's going on. >> reporter: we saw that slight pop higher in the dollar. 111 poinl 84-86. it jumped after the release of that strong gdp data touched a one-year high. the yen fell after march inflation data for germany came in lower than the february figure. that dampened expectations of tapering mon terrapin stimulus. reaction to the british pound in the triggering of brexit has been calm. more are concerned with the terms of britain's departure which will be a long, drawn-out affair. the seoul copsy trading flat. sid -- cops kospi is trading flat. >> >> toshiba must fulfill it's responsibilities under the deal says southern company's president. it provides utilities for nine billion household across the southern part of the u.s. >> one of the things that we're so focused on, we have a long relationship not only with westinghouse but toshiba that were committed not only financially, operationally, but morally to work through these chall
a lot of focus on toshiba like lib today. >> absolutely and for a while. now, you mentioned the firmer dollar. tell us what's going on. >> reporter: we saw that slight pop higher in the dollar. 111 poinl 84-86. it jumped after the release of that strong gdp data touched a one-year high. the yen fell after march inflation data for germany came in lower than the february figure. that dampened expectations of tapering mon terrapin stimulus. reaction to the british pound in the...
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Mar 30, 2017
03/17
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. >> i made a living for 40 years at toshiba. while i worked there, business management was never this messed up. toshiba shares actually rose about 4% as the sale was approved this thursday. in europe, it slipped into the red. the dax study as new data shows annual inflation in germany dropped to 1.5% in march. the european central bank is targeting 2% price rises across the blood. wall street is turning upwards. banking and energy sectors field gains. the readingpwards for gdp growth saying the american economy extended 2.1% instead of 2% in the last three months of the year. just a day after the u.k. formally began its divorce proceedings from the european union, they lost a 300-year-old institution, choosing brussels as its access to the european market. theyblow shows how much will lose. of lloyd's of london will effectively become void brussels. after months of considerations, the 329 insurance market chose the belgian capital and eu help for a new subsidiary that will serve clients within the block. >> we wanted to have a
. >> i made a living for 40 years at toshiba. while i worked there, business management was never this messed up. toshiba shares actually rose about 4% as the sale was approved this thursday. in europe, it slipped into the red. the dax study as new data shows annual inflation in germany dropped to 1.5% in march. the european central bank is targeting 2% price rises across the blood. wall street is turning upwards. banking and energy sectors field gains. the readingpwards for gdp growth...
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Mar 28, 2017
03/17
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meanwhile, toshiba's u.s. nuclear power unit westinghouse is planning to file for chapter 11 bankruptcy protection. that would allow toshiba to separate the subis he citiary from its earnings reports. while the move would hurt toshiba's financial health for the time being, executives say it would prevent losses from ballooning further. >>> japan's diet has approved the country's largest ever budget for fiscal 2017. finance minister aso says looking ahead, the government will turn its focus to balancing its budget. >> translator: we want to achieve a primary surplus by 2020. we will do this by carrying out further spending reforms and raising the consumption tax. >> the budget will allow the government to spend an estimated $97 trillion yen. that's about $880 billion. officials had hoped to cut rising welfare spending, but tax revenue was not enough. that's created a 35% budget shortfall that officials plan to cover with a new bond issue. >>> as the gender balance in japanese boardrooms changes, new opportuniti
meanwhile, toshiba's u.s. nuclear power unit westinghouse is planning to file for chapter 11 bankruptcy protection. that would allow toshiba to separate the subis he citiary from its earnings reports. while the move would hurt toshiba's financial health for the time being, executives say it would prevent losses from ballooning further. >>> japan's diet has approved the country's largest ever budget for fiscal 2017. finance minister aso says looking ahead, the government will turn its...
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Mar 3, 2017
03/17
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executives at toshiba machine held their meeting on thursday and voted to buy back the shares toshiba is selling. toshiba is expecting to post a huge loss from its u.s. nuclear power business. the executives have been working on a plan to give up control of the company's priczed chip business. >>> share markets in tokyo are moving in a slight range after opening slower. however, a stronger dollar is supporting sentiment. taking look at where the nikkei is trading. right now we can see it's down by .2 of a percent. the energy sector is suffering from lower crude prices but exporters like car makers are higher on a weaker yen. let's take a look at that next. the dollar is moving without clear direction in tokyo trading hours. overnight it touched a two week high at the upper 114 yen level. that's after more federal reserve officials voice the possibility of an early rate hike. traders will be watching fed chair janet yellen who speaks later on friday about the state of economy. the euro is lower against the dollar touching a one week low. let's move onto other markets open this hour acr
executives at toshiba machine held their meeting on thursday and voted to buy back the shares toshiba is selling. toshiba is expecting to post a huge loss from its u.s. nuclear power business. the executives have been working on a plan to give up control of the company's priczed chip business. >>> share markets in tokyo are moving in a slight range after opening slower. however, a stronger dollar is supporting sentiment. taking look at where the nikkei is trading. right now we can see...
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Mar 10, 2017
03/17
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toshiba expects a loss of more than $6 billion from the nuclear business. so it's busy rebuilding its finances. executives at toshiba subsidiary westinghouse are considering filing for bankruptcy. deputy prime minister taro aso said there's no time to waste. >> unless the decision for chapter 11 filing is made soon, toshiba probably wouldn't be able to determine its losses. and release its earnings report. westinghouse has to make its decision by the end of this month. >> industry minister wants it take up the toshiba issue with u.s. officials. >> i hope to hold a meetiting wh the energy secretary if i can get the diet's approval to visit the u.s. if u.s. officials bring up the issue, the discussion should take place. >> seiko told reporters he had heard nothing about a possible bankruptcy filing by westinghouse executives. >>> the japan business federation is trying to dispel concerns about the safety of fukushima food. the the eve of the 6th anniversary of the quake and tsunami that triggered the nuclear accident. a fukushima prefectural official said pri
toshiba expects a loss of more than $6 billion from the nuclear business. so it's busy rebuilding its finances. executives at toshiba subsidiary westinghouse are considering filing for bankruptcy. deputy prime minister taro aso said there's no time to waste. >> unless the decision for chapter 11 filing is made soon, toshiba probably wouldn't be able to determine its losses. and release its earnings report. westinghouse has to make its decision by the end of this month. >> industry...
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Mar 2, 2017
03/17
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toshiba climbing 3.6%. a great increase outlining why taiwan stocks should be considered the top bidder for toshiba's business. it is willing to cough up the required investment. last week, they held a press conference at a factory, saying he is very serious about a potential bid for toshiba's ship business. kospiea, we do have the extending gains from the wednesday holiday. we will be focusing on samsung electronics. it cut trading by assets. it did have 41 bytes. traders still a liking that stock. miners australia we have leading the charge come up over 1%. overnight we had reports china ordered cuts in steel and aluminum refiners. rising overluminum 8%. haidi: thank you so much. strongly hinting perhaps we could see rate increases sooner rather than later. bloomberg's editor here with the latest. we have a trifecta, a trio now? quadfecta when there are four? >> what julie and i are trying to say, higher profile ones are jumping on the bandwagon getting more and more people thinking they may be getting us
toshiba climbing 3.6%. a great increase outlining why taiwan stocks should be considered the top bidder for toshiba's business. it is willing to cough up the required investment. last week, they held a press conference at a factory, saying he is very serious about a potential bid for toshiba's ship business. kospiea, we do have the extending gains from the wednesday holiday. we will be focusing on samsung electronics. it cut trading by assets. it did have 41 bytes. traders still a liking that...
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Mar 28, 2017
03/17
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but toshiba continued to struggle, closing down .5%. the nikkei was able to recover some of its losses from monday's session, but investors are still waiting for clarity on how and when trump will implement his fiscal stimulus plan. i'm phoebe amoroso, reporting from the tokyo stock exchange. >>> most other markets also ended higher. hong kong's hangseng gained. after the gdp figures were revised up slightly from the initial readings. sydney's s&p/asx index closed up. oil prices also supported the increase but the shanghai composite fell for the second day down .43% to 3252. the country's central bank skipped fund injection for a third straight day. workers in japan, cap on overtime hours and fairer treatment for nonregular employees. the plan limits annual overtime to 720 hours and monthly overtime to less than 100 hours during a so-called peak month. revised c conditions for medica doctors are still under consideration. employers in construction and transportation will be grant aid five-year moratorium from the reforms but will not be
but toshiba continued to struggle, closing down .5%. the nikkei was able to recover some of its losses from monday's session, but investors are still waiting for clarity on how and when trump will implement his fiscal stimulus plan. i'm phoebe amoroso, reporting from the tokyo stock exchange. >>> most other markets also ended higher. hong kong's hangseng gained. after the gdp figures were revised up slightly from the initial readings. sydney's s&p/asx index closed up. oil prices...
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Mar 15, 2017
03/17
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the stock fell and toshiba is still trying to uncover the problems and how far they go. they figured out the fourth quarter but do not know if it impacts the previous and will go back and do that. it will take until april to figure out. >> they need to study the shift and bring in the money. >> this business could get the most and it is the one they do not want to sell. the problem is that these costs wouldve 10% georgia electric and the costs battleen rising in a over how much they can increase the price. one of the most expensive pieces is in a resolution where they said you cannot increase this cost anymore and cybersecurity was singled out as part of this. it is interesting. >> if they are going to take on snakes, would it be chinese or japanese buyers? with theunlikely chinese companies here and the results is a lot of companies who are willing to take this and it is a tough business. when the accounting is phony, it is really disastrous. what more is there with tech? >> they will have to figure out how big the fundamental problems requirementill be a after they fig
the stock fell and toshiba is still trying to uncover the problems and how far they go. they figured out the fourth quarter but do not know if it impacts the previous and will go back and do that. it will take until april to figure out. >> they need to study the shift and bring in the money. >> this business could get the most and it is the one they do not want to sell. the problem is that these costs wouldve 10% georgia electric and the costs battleen rising in a over how much they...
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Mar 28, 2017
03/17
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plunging toshiba into financial crisis. by having westinghouse file for bankruptcy protection, toshiba can move westinghouse off its books and improve its own situation. if the decision is reached at the next board meeting, the bankruptcy filing could come as early as tuesday in the u.s., but it will come at a hefty price for toshiba which will have to guarantee westinghouse's debt which amounts to more than $7 billion. talks are ongoing with the nuclear plants to have construction continue while the unit is under bankruptcy protection but it will likely be delayed and may force toshiba to have breach of contract penalties and future losses which could drive the amount up to more than $9 billion. >>> westinghouse needs help for its overhaul and has asked korea electric power group, a major player in south korea to sponsor the recovery. but specifics are yet to be discussed and other sponsors may come forward this bankruptcy filing will be a first step towards toshiba's recovery but it's far from being out of the woods. tosh
plunging toshiba into financial crisis. by having westinghouse file for bankruptcy protection, toshiba can move westinghouse off its books and improve its own situation. if the decision is reached at the next board meeting, the bankruptcy filing could come as early as tuesday in the u.s., but it will come at a hefty price for toshiba which will have to guarantee westinghouse's debt which amounts to more than $7 billion. talks are ongoing with the nuclear plants to have construction continue...
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Mar 29, 2017
03/17
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toshiba said that simply take a right and a $6 billion. it also led westinghouse to file for bankruptcy and is getting out of the nuclear construction business. nicole: coming up, america's mayor said to me that the homeland secretary today on the cracked out a sanctuary city. are america's our america's mayors. not for illegal manner? british prime minister theresa may makes it official signing for divorce from the european union. what the british accident in disaster that some predict? we'll talk to nigel farage who led the charge for exiting the e.u. he says everything will be fine. you are watching "fbn:am," your first look at morning markets and breaking news. ♪ nicole: bright sunshine. at 15 and your list if you but it's happening now happening now. a beautiful day. britain is formally filing for divorce today. prime minister theresa may send the document that formally begin the u.k. departure from the european union. she now is two years to negotiate terms of the separation which takes effect in 2019. president trump 19. president
toshiba said that simply take a right and a $6 billion. it also led westinghouse to file for bankruptcy and is getting out of the nuclear construction business. nicole: coming up, america's mayor said to me that the homeland secretary today on the cracked out a sanctuary city. are america's our america's mayors. not for illegal manner? british prime minister theresa may makes it official signing for divorce from the european union. what the british accident in disaster that some predict? we'll...
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Mar 14, 2017
03/17
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shares of japanese conglomerate toshiba have fallen 8% in tokyo. that is after the company announced it will extend the deadline for submitting its earnings report, for the second time. sharanjit leyl is in our asia business hub in singapore. as second delay, that does not bode well at all in terms of what it will tell us when it finally announces what is going on. that's right, doesn't bode well. but unusually, for its shares, you mentioned it had fallen as much as 8%. it has scaled back those steep losses after announcing that earnings delay. the firm essentially asked regulators to extend the march 1a deadline for official earnings to a little later. they will be holding a news conference about this later on to clarify things for investors. but essentially the first time they delayed their earnings was in february. doing so again, there were disagreements with its auditors in fabric, when its chairman stepped down, and all this because they are expecting a $6 billion write—down. some of its us nuclear assets not worth as much as previously est
shares of japanese conglomerate toshiba have fallen 8% in tokyo. that is after the company announced it will extend the deadline for submitting its earnings report, for the second time. sharanjit leyl is in our asia business hub in singapore. as second delay, that does not bode well at all in terms of what it will tell us when it finally announces what is going on. that's right, doesn't bode well. but unusually, for its shares, you mentioned it had fallen as much as 8%. it has scaled back those...
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Mar 14, 2017
03/17
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toshiba and it has missed its earnings deadline. first, karishma vaswani is in singapore... explain the significance of this. it is the second time it has delayed its earnings announcement and it is a major embarrassment for an already troubled firm. it asked for the extension, one month this time around, until april the 11th, to sort out what it says are auditing problems. we have heard this before and this was the reason it gave in the previous set of announcements when it was expected to make the announcement in march. in the last hour there has been a news conference that toshiba has held and the president has repeatedly said it is planning to sell its stake in its troubled american nuclear business. nuclear is a third of the company's revenues. that division has not made a profit for the last few years. the president has also said he is hoping the company will return to growth in 2018 and 2019, but the market and investors are 2018 and 2019, but the market and investors a re not 2018 and 2019, but the market and investors are n
toshiba and it has missed its earnings deadline. first, karishma vaswani is in singapore... explain the significance of this. it is the second time it has delayed its earnings announcement and it is a major embarrassment for an already troubled firm. it asked for the extension, one month this time around, until april the 11th, to sort out what it says are auditing problems. we have heard this before and this was the reason it gave in the previous set of announcements when it was expected to...
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Mar 14, 2017
03/17
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could we be waving goodbye to toshiba as a technology business? what more is there other than the memory chips? cory: fundamentally they have to figure out where the problems are. for them to make any decisions about what to sell and when, it is a requirement they have to figure out after they figure out how deep the problem is. the other problem is they not only made price guarantees but they made a grantee about the credit rating -- during key about the credit rating. if it is lower they would have to secure additional credit just to keep doing the work they are already in. they really are in a tangled mess. only you can bring in steve mcqueen and the technology behind nuclear. we need you here on these programs. thank you. now a program note. on wednesday we will have full coverage of the fed decision along with janet yellen's news conference here on bloomberg television and radio. coverage begins at 1 p.m. new york time. coming up, netflix has a new strategy. how the likes of will smith, brad pitt, tilda swinton and martin scorsese are joining
could we be waving goodbye to toshiba as a technology business? what more is there other than the memory chips? cory: fundamentally they have to figure out where the problems are. for them to make any decisions about what to sell and when, it is a requirement they have to figure out after they figure out how deep the problem is. the other problem is they not only made price guarantees but they made a grantee about the credit rating -- during key about the credit rating. if it is lower they...
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Mar 24, 2017
03/17
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toshiba set and gary are ordered in new york -- set for another big day after adr sword in new york. and u.s. inventories are at an all-time high. says it is not have to decide between its leading ally and it biggest trading partner. this is the second hour from daybreak asia, coming to you live. it is just after -- betty: betty: it is just after 8:00 here in new york. we are getting breaking news health-care reform bear -- bill. they're planning a friday vote on the bill. they delayed it today, could not get enough votes to get this passed. it looks as if on friday they will try again at getting this health care bill. shery: we were sort of expecting it. the white house and already said that friday could be the day, but the market did it take a hit when they had the delay. we'll see how the markets in asia respond, maybe a little bit more optimistic now that we could see about happening. let's bring in david ingles to check out the markets and what they're doing on the open. david: there is a bit of caution when you look at japan. i feel this in its own momentum right now. we are up
toshiba set and gary are ordered in new york -- set for another big day after adr sword in new york. and u.s. inventories are at an all-time high. says it is not have to decide between its leading ally and it biggest trading partner. this is the second hour from daybreak asia, coming to you live. it is just after -- betty: betty: it is just after 8:00 here in new york. we are getting breaking news health-care reform bear -- bill. they're planning a friday vote on the bill. they delayed it...
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Mar 13, 2017
03/17
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foxconn now confirming a strong forfor the chip business toshiba. toshiba also said it is not unit.g its tec .ut to sell south korean airlines flat at the moment. the low-cost carrier over in south korea suspending some flights on worsening ties with china. it comesalk about when to the markets. those are your individual movers for the day. a lot of risk appetite -- not a lot of risk appetite out there. yvonne: thank you. senior officials in beijing say the economy has shown improvement in the first two months of the year, striking a more optimistic town than that of the premier li keqiang. tom mackenzie joins us live from beijing, so less risk of a hard landing then? it seems like a more far off and distant prospect. economic officials have a spring in their step over this npc when it comes to the economy. theeard from the head of national bureau of statistics over the weekend. to two areas, industrial output he said had risen by 6% in january and february, and the services sector they want to grow in china, up 8%, or than 8% in january and februar
foxconn now confirming a strong forfor the chip business toshiba. toshiba also said it is not unit.g its tec .ut to sell south korean airlines flat at the moment. the low-cost carrier over in south korea suspending some flights on worsening ties with china. it comesalk about when to the markets. those are your individual movers for the day. a lot of risk appetite -- not a lot of risk appetite out there. yvonne: thank you. senior officials in beijing say the economy has shown improvement in the...
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Mar 28, 2017
03/17
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betty: bankruptcy looms for toshiba's u.s. unit, westinghouse. facing chapter 11 bankruptcy on tuesday. yvonne: this is the second hour of "daybreak asia." i am yvonne in hong kong, just past 11:00. just past 8:00 in new york. im am betty liu. we are watching if there's any carryover, which does not seem ,o be the case, in the u.s. winding down the reaction from the health care reform fallout. over in asia, certainly looking at many more local events happening, including the earnings season happening for chinese banks. absolutely. it seems that the market cinnamon -- sentiment is they are not buying the story that donald trump will make a far-reaching tax reform. definitely seeing a bit of a rebound here in asia with the dollar-yen stabilizing. with a couple of days here for asian investment. we will be joined by sco just minutes away. betty: let's get a quick check with sophie kamaruddin. markets open. sophie: here is the set up in asia. old fallinghave 1/10 of a percent. the yen slipping 1/10 of a percent there. we are seeing japanese stocks up
betty: bankruptcy looms for toshiba's u.s. unit, westinghouse. facing chapter 11 bankruptcy on tuesday. yvonne: this is the second hour of "daybreak asia." i am yvonne in hong kong, just past 11:00. just past 8:00 in new york. im am betty liu. we are watching if there's any carryover, which does not seem ,o be the case, in the u.s. winding down the reaction from the health care reform fallout. over in asia, certainly looking at many more local events happening, including the earnings...
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Mar 30, 2017
03/17
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toshiba shareholders have approved a proposal to split off the japanese compa ny‘s prized nand flash memory unit. it paves the way for a sale of a majority stake or even all of the hugely profitable business. the company needs to raise money because of billions of dollars of losses at its us nuclear arm westinghouse electric, which filed for bankruptcy protection on wednesday. let us show you the markets in asia. we saw a shift yesterday. they were all in the green in asia and in wall street the night before. we have seen sentiment change. we'll discuss the key issues as far as the us is concerned, it's an important day for the us, we'll get growth figures out today and that could mean what the federal reserve will think about and decide to do next. so we'll talk about that in a second. a look at europe first, slightly different picture in europe, very, very flat, to be honest, very marginal aboves in the markets. we'll talk you through the reasons why. here is samira with a look ahead to wall street's day. how did america's economy fare during the first quarter? we'll tell you when
toshiba shareholders have approved a proposal to split off the japanese compa ny‘s prized nand flash memory unit. it paves the way for a sale of a majority stake or even all of the hugely profitable business. the company needs to raise money because of billions of dollars of losses at its us nuclear arm westinghouse electric, which filed for bankruptcy protection on wednesday. let us show you the markets in asia. we saw a shift yesterday. they were all in the green in asia and in wall street...
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Mar 29, 2017
03/17
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toshiba warns it might have to take a $6.2 billion write-down. westinghouse has been struggling with project delays. toshiba may sell a majority stake in the unit. another huge ipo may be just around the corner. buzzfeed is wrapping to go public next year. pasteo has turned down buyout offers because of its long-held plan for an ipo. it has been rapidly expanding a broader platform. among its business -- biggest investors is nbc universal. amazon stock hit a new record barclaysfter initiated an overweight rating. shutting down a division which it acquired for about $545 million in 2011. amazon says it has been unable to make the owner profitable. stock to wednesday's gains, jeff bezos has become the second richest man in the world. according to the index, bezos has a net worth of $75.6 billion. coming up, brexit is officially underway. the man at the helm of u.k. tech is the heavyweight. he joins us next with his outlook for tech startups in the country. this friday on bloomberg television, we will hear from two federal reserve presidents. they w
toshiba warns it might have to take a $6.2 billion write-down. westinghouse has been struggling with project delays. toshiba may sell a majority stake in the unit. another huge ipo may be just around the corner. buzzfeed is wrapping to go public next year. pasteo has turned down buyout offers because of its long-held plan for an ipo. it has been rapidly expanding a broader platform. among its business -- biggest investors is nbc universal. amazon stock hit a new record barclaysfter initiated an...
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Mar 24, 2017
03/17
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all eyes are on how the fund will respond to toshiba's restructuring. it has confirmed the report but will not comment on it. >>> let's check on markets. major indexes ended a touch lower. that's after republicans delayed a vote on health care legislation to repeal obamacare. we'll see how tokyo markets are reacting to this. ramin joining us live from the tokyo stock exchange. tell us what you're seeing over there. >> the nikkei opened slightly in the negative. it's in the positive. investors really continuing there as you touched on there as congress postponed a vote on legislation basically to begin dismantling obamacare as trump had promised in his election pledges. looking at the nikkei and the topix. the nikkei edging into the positive. we'll see how that progresses. they have not seen pretty choppy trading. uncertainties in the political scene. both weighing on the market sentiment. allegations over interference by a private school in western japan are shaking the abe administration the house of representatives delaying a vote. that's caused some
all eyes are on how the fund will respond to toshiba's restructuring. it has confirmed the report but will not comment on it. >>> let's check on markets. major indexes ended a touch lower. that's after republicans delayed a vote on health care legislation to repeal obamacare. we'll see how tokyo markets are reacting to this. ramin joining us live from the tokyo stock exchange. tell us what you're seeing over there. >> the nikkei opened slightly in the negative. it's in the...
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Mar 29, 2017
03/17
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." ♪ haidi: toshiba faces another is nucleareports unit is about to file for bankruptcy. rishaad: it is "b" day for britain. theresa may will trigger the brexit process and the coming hours. haidi: tencent buys a 5% stake. rishaad: coming clean, president trump rolls back climate change, saying he is ending the war on coal. looking forward to 1:30 p.m. brussels time when the clock will start taking on britain leaving the european union when the british ambassador to the european union hands that letter signed by theresa may to donald tusk. that is the start of a two-year period of negotiation later today. haidi: that's right. two years of no doubt contentious negotiations. what will it mean for sterling? 1.36 for theey see pound, but a very big if counting down to that brexit trigger day. we are 30 minutes away from the open in china and hong kong. we have had this risk on rally on the table with a blowout consumer confidence number out of the u.s. will that trickled through when it comes to the asian session. let's get it over to sophie to see how we are faring. sophie:
." ♪ haidi: toshiba faces another is nucleareports unit is about to file for bankruptcy. rishaad: it is "b" day for britain. theresa may will trigger the brexit process and the coming hours. haidi: tencent buys a 5% stake. rishaad: coming clean, president trump rolls back climate change, saying he is ending the war on coal. looking forward to 1:30 p.m. brussels time when the clock will start taking on britain leaving the european union when the british ambassador to the...
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Mar 27, 2017
03/17
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toshiba's unit poised to file for chapter 11 protection. the nikkei news tweet to the face of losses of more than $6 billion. toshiba shares soared friday on the growing belief that a westinghouse bankruptcy is an exceptional outcome. toshiba said the westinghouse board will make the final decision. isc governor says china preparing to further open its financial sector, but doing so will involve negotiations over how other nations treat chinese investors. said areas of potential liberalization include banking, insurance, securities, and payment systems, but said chinese investors, particularly private investors, must be treated better overseas. sinopec says profits will double in the first quarter as crude prices and demand stabilize. that should bolster plans to boost spending this year by 44% come of the first increase since 2013. the refiner reported full-year net income of $6.8 billion. eyeing sinopec's moves for an ipo next year of its retail business, which could raise $10 billion. property developer china vanke posted a jump in profi
toshiba's unit poised to file for chapter 11 protection. the nikkei news tweet to the face of losses of more than $6 billion. toshiba shares soared friday on the growing belief that a westinghouse bankruptcy is an exceptional outcome. toshiba said the westinghouse board will make the final decision. isc governor says china preparing to further open its financial sector, but doing so will involve negotiations over how other nations treat chinese investors. said areas of potential liberalization...
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Mar 30, 2017
03/17
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in toshiba. projecting a net loss of 9 billion. that would be the biggest loss on record for any japanese manufacturer. planning to zika shareholder approval for spinning off prized flash memory chip operation to cover losses. toshiba will be hold lg extra ordinary shareholders meeting on thursday. manufacturing giant plans to spin off memory chip business and sell a majority stake in the new entity. more than two-thirds need to approve the measure for i represent to go ahead. >> president is hoping the bidders will put a high value on the business. >> reportedly submitted concrete proposals. observers say negotiations for selling the business without giving away technology may run into difficulties. stocks this morning are trading in negative. down about a quarter of a percent. that is after they ended the day higher on wednesday. some investors picked up shares in hope as bankruptcy would help. let's see how overall stocks are performing. he joins from from tokyo stock exchange. what wrote you seeing over there. >> of course shar
in toshiba. projecting a net loss of 9 billion. that would be the biggest loss on record for any japanese manufacturer. planning to zika shareholder approval for spinning off prized flash memory chip operation to cover losses. toshiba will be hold lg extra ordinary shareholders meeting on thursday. manufacturing giant plans to spin off memory chip business and sell a majority stake in the new entity. more than two-thirds need to approve the measure for i represent to go ahead. >>...